Auditor: Rollin Twp. finances in good shape

Friday

Nov 16, 2012 at 2:00 PM

By Dan CherryDaily Telegram Staff Writer

The Rollin Township Board heard good news during its annual audit report Wednesday.

Phil Rubley gave the township an “unqualified” opinion on the 2011-12 audit, the highest rating given. The township had general fund revenues of $449,140 and expenses of $417,336, ending the year with a fund balance of $602,843.

“You have a very good, very healthy fund balance,” Rubley said. Municipalities are encouraged to have three months of operating expenses saved. Rollin Township has more than one year’s worth saved in funds.

Rubley cautioned the township to have a solid policy in place for charging penalties and interest on late payments made by township residents. The township currently does not have such a written

policy. Rubley also encouraged the township to consider spreading its funds across other banking institutions so more money is protected under the FDIC’s insurance program of $250,000 per bank. The township has approximately $826,445 in protected assets, while $1 million remains uninsured.

In other businessThe Rollin Township Board on Wednesday also:

— Passed a dangerous buildings ordinance in a 3-2 vote. Clerk Sharon Gust and trustee Ray McGrath expressed concerns about some of the wording of the ordinance that gives the township more power to deal with unsafe structures.

— Heard remarks from Gust and McGrath, who are finishing their service on the board. Both thanked the board and audience for being given the opportunity to serve. McGrath served the township for 22 years, while Gust served for nearly 19 years.

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